Why Apple Should Launch an iPhone Subscription Plan
4:04

Why Apple Should Launch an iPhone Subscription Plan

Mobile
Speaker 1: Between Netflix, Amazon prime and Spotify. I bet you already have too many subscriptions. Now apple might add one more. Your iPhone Speaker 1: Bloomberg reports that apple is working on a new payment option. That would let you subscribe to your iPhone rather than buying it. Of course, there's a lot we don't know yet, but a program like this could provide a bigger incentive to trade in your old phone rather than letting it collect [00:00:30] dust in a drawer. And that could go a long way in cutting down on e-waste. The more phones apple gets through. Trade-ins the more components it has to recycle and put in new devices. And depending on the price, a subscription might end up being cheaper than buying multiple apple products. Here's what we know so far based on Bloomberg's report. If it turns out to be true, apple wants to let you subscribe to its hardware products, just like you would subscribe to iCloud apple music or apple TV plus. So in theory, [00:01:00] that means you'd be able to rent gadgets like iPhones and iPads rather than buying them outright. Speaker 1: And unlike other monthly payment options, the price wouldn't be the cost of the device split over 12 or 24 months. Instead, apple would charge a monthly fee that varies depending on the device. Apple has also discussed letting subscribers exchange old models for newer iPhones. Once they launch according to the report, of course, that would be great for Apple's business. It could encourage people to upgrade more often at a [00:01:30] time when people have been holding onto their phones for longer periods of time. But it also means apple would have a steady stream of old iPhones coming in that it can either resell or S strip down for materials. And that's a, because apple eventually wants to build iPhones completely from recycled materials. And yes, there are already plenty of ways to trade in your old phone, through apple and other retailers, but recycling rates aren't as high as you might think. Speaker 1: Just 31% of old iPhones typically get traded [00:02:00] in according to consumer intelligence research partners, that's not bad, especially considering only 10% of old Android phones typically get traded in, but there's still a lot of progress to be made. And only about 20% of e-waste is officially reported and properly collected says a report from the world economic forum and the platform for accelerating the circular economy. A subscription plan could make trading in your old iPhone more than just an option to save money. Trade-ins would probably be a bigger part of the whole sales experience [00:02:30] possibly making, leasing your iPhone as a normal, as leasing a car. Since Bloomberg says the subscription price isn't meant to cover the entire cost of the device. There's also a chance it could be cheaper than current monthly payment options. That means subscription might make it more affordable to get your hands on multiple apple devices. Speaker 1: That's if Bloomberg's report turns out to be true, apple has yet to announce such a program and the Bloomberg report doesn't have all the details. We still don't know how much the program would cost or what [00:03:00] happens when your subscription expires. We also don't know whether trade-ins will be a major part of the program. Bloomberg only says apple has discussed the idea. Regardless, an iPhone subscription would have to be priced just right in order to succeed. There are already tons of ways to buy new phones, apple carriers, and other retailers already offer big training discounts and ways to purchase phones through monthly installment plans. There's also Apple's own iPhone upgrade program, which starts at about $35 [00:03:30] per month. Unless you spread out the cost of your device over time, a subscription service would have to be cheaper than those monthly payment options to really make a difference. Let's be honest, apple. Isn't exactly known for its low prices. There's also the issue of whether people are just burned out from the sheer number of services they already subscribe to adding yet. Another one could be a tough sell. We have a lot of questions, but hopefully we'll learn more from apple later this year. Would you pay for your iPhone through a subscription instead of buying it? Let us know in the comment. Thanks [00:04:00] for watching. And I'll see you next time.

Up Next

A Tour of NASA's Moon Rocket Factory
artemis1

Up Next

A Tour of NASA's Moon Rocket Factory

Deepfake Expert Reacts to Viral Deepfakes
deepfake-3

Deepfake Expert Reacts to Viral Deepfakes

Apple WWDC 2022 Preview
wwdc-preview-00-01-51-17-still006

Apple WWDC 2022 Preview

F50 Hydrofoils: Racing The World's Most Advanced Sailboats
fd1-2772

F50 Hydrofoils: Racing The World's Most Advanced Sailboats

Why I'm More Excited for a New Apple Watch SE Than the Series 8
yt-apple-watch-se-n-8-v4

Why I'm More Excited for a New Apple Watch SE Than the Series 8

Gene Simmons talks about 50 years of Kiss Mania
gettyimages-1360277643

Gene Simmons talks about 50 years of Kiss Mania

2022 iPhone SE Disappoints in Drop Test
yt-iphone-se-drop-test-v3

2022 iPhone SE Disappoints in Drop Test

Disney's Galactic Starcruiser: What It's Really Like Inside the Star Wars Hotel
Disney Star Wars Galactic Starcruiser Hotel

Disney's Galactic Starcruiser: What It's Really Like Inside the Star Wars Hotel

Meet Rocki, the robot companion for pets
rockirobot-youtube-00-04-50-14-still007

Meet Rocki, the robot companion for pets

Tech Shows

The Apple Core
apple-core-w

The Apple Core

Alphabet City
alphabet-city-w

Alphabet City

CNET Top 5
cnet-top-5-w

CNET Top 5

The Daily Charge
dc-site-1color-logo.png

The Daily Charge

What the Future
what-the-future-w

What the Future

Tech Today
tech-today-w

Tech Today

Latest News All latest news

Android Finally Has an Answer to iMessage Envy
article1.png

Android Finally Has an Answer to iMessage Envy

How to Back Up Your iPhone
yt-applestuff-ep04-icloud-v02

How to Back Up Your iPhone

Find Free Wi-Fi Near You to Stay Connected
220630-yt-how-to-get-free-wifi-on-the-go

Find Free Wi-Fi Near You to Stay Connected

A Tour of NASA's Moon Rocket Factory
artemis1

A Tour of NASA's Moon Rocket Factory

Watch What Could Be the World's First Commute in a Personal Flying Vehicle
jetson-one-seq-00-06-21-07-still001

Watch What Could Be the World's First Commute in a Personal Flying Vehicle

Deepfake Expert Reacts to Viral Deepfakes
deepfake-3

Deepfake Expert Reacts to Viral Deepfakes

Most Popular All most popular

Watch What Could Be the World's First Commute in a Personal Flying Vehicle
jetson-one-seq-00-06-21-07-still001

Watch What Could Be the World's First Commute in a Personal Flying Vehicle

SpyraTwo hands-on: The ultimate water gun
spyratwo-2

SpyraTwo hands-on: The ultimate water gun

How to Find Cheap Flights
airlinetickets-master-00-05-36-21-still003

How to Find Cheap Flights

Deepfake Expert Reacts to Viral Deepfakes
deepfake-3

Deepfake Expert Reacts to Viral Deepfakes

Fun Amazon Finds Under $50 (July 2022)
amazonjuly2022-master-00-11-19-15-still001

Fun Amazon Finds Under $50 (July 2022)

The iPhone at 15: How Apple's Phone Became the Center of Your Life
yt-applestuff-ep02-v6

The iPhone at 15: How Apple's Phone Became the Center of Your Life

Latest Products All latest products

E Ink Tablets: Everything You Need to Know
eink-website

E Ink Tablets: Everything You Need to Know

Moto G 5G Review: A $400 Phone That May Have Everything You Need
clip0001-00-00-25-15-still001

Moto G 5G Review: A $400 Phone That May Have Everything You Need

Hands-On: We Got to Try the Sony Xperia 1 IV and Its Zoom Lens
xperiafinalpicsite

Hands-On: We Got to Try the Sony Xperia 1 IV and Its Zoom Lens

Lenovo Legion 7 Gaming Laptops Combine Great Power With Simple, Slim Designs
lenovolegion-00-00-45-13-still003

Lenovo Legion 7 Gaming Laptops Combine Great Power With Simple, Slim Designs

Exploring Meta Store: Facebook Parent Meta's First Physical Retail Space
metastore

Exploring Meta Store: Facebook Parent Meta's First Physical Retail Space

Lenovo's Torrent of Slim-Series Laptops Has Almost Too Many Options
lenovoslim-00-00-03-10-still001.png

Lenovo's Torrent of Slim-Series Laptops Has Almost Too Many Options

Latest How To All how to videos

How to Play Games from PlayStation Plus on PC
psstill

How to Play Games from PlayStation Plus on PC

How to Delete or Disable Your Instagram Account
phoneonorange

How to Delete or Disable Your Instagram Account

Fix Your iPhone Screen With Apple's Self-Service Repair Kit
dsc00641

Fix Your iPhone Screen With Apple's Self-Service Repair Kit

How to Buy a Budget Laptop in 2022
budgetlaptops-00-08-35-15-still001

How to Buy a Budget Laptop in 2022

Google Pay: How to Set Up and Use
googlepay-inhand

Google Pay: How to Set Up and Use

Clean Your AirPods and EarPods Without Damaging Them
yt-howto-clean-airpods-v3

Clean Your AirPods and EarPods Without Damaging Them